Posted on January, 17, 2019 at 09:01 am
THE African Development Bank (AfDB) is today expected to launch its 2019 African Economic Outlook (AEO) flagship report, according to the bank’s statement.
The report will be launched at the pan-african bank headquarters in Abidjan, the western African nation’s capital of Ivory Coast.
The bank added that this year's flagship publication theme is “Regional Integration for Africa’s Economic Prosperity.”
The annual AEO highlights economic prospects and projections for the entire continent and for each of the 54 countries.
It will offer short- and medium-term forecasts on the main socio-economic factors, such as jobs, while simultaneously examining the challenges and progress.
The report is the result of the work and analysis of the economic experts of the bank. It is a tool for policymakers, academics, investors, development and financial industry professionals and the press and is widely used to inform policy dialogue and enhance the operational efficiency of institutions.
The launch will be followed by a press conference, the bank stated.
The African Development Bank Group is a multilateral development finance institution. The AfDB was founded in 1964 and comprises three entities—the African Development Bank, the African Development Fund and the Nigeria Trust Fund.
The AfDB's mission is to fight poverty and improve living conditions on the continent through promoting the investment of public and private capital in projects and programs that are likely to contribute to the economic and social development of the region.
The AfDB is a financial provider to African governments and private companies investing in the regional member countries (RMC). While it was originally headquartered in Abidjan, Côte d'Ivoire, the bank's headquarters moved to Tunis, Tunisia, in 2003, due to the Ivorian civil war; before returning in September 2014.
The AfDB, Africa’s premier development finance institution, was established in 1964 to mobilize resources for the economic and social development of its regional member countries (RMCs) by promoting sustainable and inclusive growth and poverty reduction. The Bank has approved 4,185 loans and grants totaling US $107.6 billion to its Regional (African) Member Countries from 1967 to 2014.
Source: IPP Media